EUR/USD: Greenback Battles Back - FXStreet
Valeria Bednarik,
chief analyst at FXStreet explained that the American dollar fell to
fresh yearly lows against most of its major rivals this Tuesday, as poor
manufacturing data coming from China revived concerns over a global
economic slowdown.
Key Quotes:
"European
stocks plummeted, closing the day in the red, helping the common
currency in surging to a fresh 8-month high of 1.1615 against the
dollar."
"The release of better-than-expected data in Europe
fueled demand for the common currency, as in March, industrial producer
prices rose by 0.3% in the euro area, following a 0.7% in the previous
month."
"The pair began to ease after the release of poor UK
data, which gave the greenback a breath that turned into a strong
intraday advance following Wall Street's opening."
